Group 1
An unattended electronic machine at which a customer can
perform bank transactions 24 hours a day.
Automatic Teller Machine (ATM):
To use someone else’s money with permission in return for paying it back later (sometimes
with interest).
Borrow:
Printed forms that an account holder of a checking account can use to pay others instead
of using cash.
Checks
Any form of money in use as a medium of exchange for a good or service.
Currency
A value or size of money.
Denominations
Method of exchange by which goods and services are directly exchanged for other goods
and services without using money.
Bartering:
Money in the form of coins or bills.
Cash
Buying and using products.
Consumption
Plastic card that identifies the holder and allows them to make purchases on credit.
Credit Card
Dividing up a task so that each worker does a different piece.
Division of Labor
Business that keeps money for customers, makes loans, and provides other money-related
services.
Bank
Printed forms that an account holder of a checking account can use to pay others instead
of using cash.
Checks
Someone who signs their name on a legal document and is responsible for the account.
Co-Signer
Plastic card assigned to the account owner that allows them access to their funds
electronically.
Debit Card
To make money.
Earn
Written plan of how much money can be spent and how.
Budget
A bank account in which checks may be written against amounts on deposit.
Checking
Providing of money or goods with the expectation of payment in the future. Trust given to a
customer for a future payment for the goods purchased.
Credit
Money that you owe someone that needs to be paid back.
Debt
The way a society organizes the production and consumption of goods and services. It
helps companies decide what products to produce, how they should be produced, and who want
their products.
Economy
Goods that are used to produce other goods or services, like tools, machines,
or buildings.
Capital Resources
Someone who buys and uses goods and services.
Consumer
Money paid or charged for something.
Costs
A consumer's desire and willingness to pay a price for a specific good or service.
Demand
Having a job.
Employment